M2RTY
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Registered: 25th May 01
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looking for a new job, never had the option of a compnay car, one i just applied for states 5k a year car allowance. Any ideas on the type of cars this would cover? Totally in the dark on this one! Cheers
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
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Just means you'll get 5k towards a car IIRC.
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M2RTY
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Registered: 25th May 01
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ahh so it could be a company car or 5k in lieu
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richc
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Registered: 24th Mar 07
Location: Ilkeston
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Anything you want. They will literally give you 416 a month (see what i did there  ) and you put it towards the cost of the car you will use for your business miles. They will then give you a price per mile for fuel on top.
There might be some contraints though like the car must be under 5 years old and so many miles to start off with as they deem it the newer it is, the more reliable it will be and not cost them any down time by you not being where you are suppose to be.
A friend use to do this on his astra vxr. He had a seat ibiza tdi on company car scheme and handed it back and took the 400 cash to use his vxr (at the time was a second car). Obviously he used more fuel, but the 400 paid for the loan he took out to buy the thing.
[Edited on 19-01-2012 by richc]
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AK
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Registered: 5th Jul 00
Location: Aberdeen City
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you get 5k in your salary over the year, so £417 a month extra
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adiohead
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Registered: 28th Sep 01
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Now you can afford an Evo
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M2RTY
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Registered: 25th May 01
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ah ok, thats better then i thought, will have to look into it more if i get an interview etc. Odd as i dont think they job would require any business miles and its only a few miles from home
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James
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Registered: 1st Jun 02
Location: Surrey
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Isn't it usually the case that you get a certain amount in cash or a certain amount towards a car? They rarely match, i.e. Either £5k towards a car or £3k in cash....
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RichR
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Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
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The car allowance is also for the runnign of the car remmeber. Also, there tends to be strict criteria as to the car you can own. The guys I know on car allowance schemes can have a car no older than 5 years, must be 4/5 door (either estate or saloon, no hatchbacks), some have engine size restrictions and some have car brand restrictions too.
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M2RTY
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Registered: 25th May 01
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sod that, none of my cars will fall into that cat lol
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Adam_B
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Registered: 13th Dec 00
Location: Lancashire
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Depends on the company though, my dad got himself a 1.8 Astra Convertible on an allowance scheme.
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3CorsaMeal
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Registered: 11th Apr 02
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never really understood jobs with a car, surely people can get themselves to work in a car.
i'd 100% take the money over a company car
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
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Dad's company have the following restrictions for people on his Allowance schemes
- No older than 6 years
- Estate or Saloon
- Jaguar, Ford, Volvo, Audi, Mercedes, BMW, Honda
- Must have leather interiors
- Max. Engine size 2.5
- Must be Diesel
- No bright colours (Red, yellow, green etc)
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Ben G
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Registered: 12th Jan 07
Location: Essex
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leather interiors? the fuck?
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Adam_B
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Registered: 13th Dec 00
Location: Lancashire
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random 
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Gary
Premium Member
Registered: 22nd Nov 06
Location: West Yorkshire
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quote:
Originally posted by Ben G
leather interiors? the fuck?
Less change of staining maybe?
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whitter45
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Registered: 15th Nov 02
Location: Norton
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if you are allowed to opt out you get 416 Before tax to spend on a car
seems good to consider the following when opting out
Company will require business use insurance so insurance will increase. if you opt in company insure you and also anyone you wish to nominate as a named driver
The nature you need a car would suggest more mileage so think about servicing, tyres etc unless you get a fully maintained lease plan. again opt in (company car) all servicing etc is paid for
Your company enforce certain rules for your purchase car as Live Lee indicates - this applies to both opt in and opt out cars - the reason normnally surrounds asset tax they can recover for lower emission cars - so if the overall fleet is low in emission they pay less tax in asset tax
Most firms are now moving to an opt out scheme where you are given cash but you still purchase a car through a provider of their choice - happen to our opt out guys
I currently opt in for reasons above but have to pay BIK tax for the car
[Edited on 19-01-2012 by whitter45]
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whitter45
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Registered: 15th Nov 02
Location: Norton
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you will also find that on the car list lease the likes of Audi BMW, MERC Vag etc are cheaper compared to Fords etc due to residuals
I know a Mondeo was far more expensive than the BMW I opted for in terms of a monthly lease cost
Also when if you opt out and get a l;ease consider mileage penalities
I very much doubt a position with few business miles will offer a car unless you are at a certain level in which its deemed part of your package rather than a requirement to do your job
[Edited on 19-01-2012 by whitter45]
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Liam-Wilko
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Registered: 6th Mar 08
Location: Sunderland, Tyne and Wear
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company car ext all depends if usualy gose on ya pay as a company benafit as you tax allouance is reduced for anything like car/van fuel ext ext so you may get a car but if u get 5k car tu will see your tax code go from 747l to 247l witch means you get taxed on more
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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quote:
Originally posted by Ben G
leather interiors? the fuck?
They're used to take clients/customers/assosciates out or pick up from airports/drive through Europe. I guess its about setting an impression. The guys who get company cars do a minimum of 20,000 business miles per year and a lot of that time is spent with people in the car - the colours issue is the same issue, no garish colours
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VegasPhil
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Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
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We can have anything on car allowance.
Corsa 2.0 16v Vegas - Sold
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Fro
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Registered: 20th Jun 06
Location: Rainham, Essex Drives: A3 2.0TDi Sport
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quote:
Originally posted by LiVe LeE
quote:
Originally posted by Ben G
leather interiors? the fuck?
They're used to take clients/customers/assosciates out or pick up from airports/drive through Europe. I guess its about setting an impression. The guys who get company cars do a minimum of 20,000 business miles per year and a lot of that time is spent with people in the car - the colours issue is the same issue, no garish colours
Better resale value in the end aswell.
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Mieran
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Registered: 28th Jan 08
Location: Newcastle upon Tyne
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One thing to remember is car benefit will also effect your personal allowance
For example everyone gets 7475 during 11/12 tax year so if you go for the car benefit your new code will be 2475
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Daniel_Corsa
Premium Member
Registered: 21st Apr 04
Location: Wigton, Cumbria
User status: Offline
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quote:
Originally posted by whitter45
you will also find that on the car list lease the likes of Audi BMW, MERC Vag etc are cheaper compared to Fords etc due to residuals
I know a Mondeo was far more expensive than the BMW I opted for in terms of a monthly lease cost
Also when if you opt out and get a l;ease consider mileage penalities
I very much doubt a position with few business miles will offer a car unless you are at a certain level in which its deemed part of your package rather than a requirement to do your job
[Edited on 19-01-2012 by whitter45]
Also down to the discount percentage at the dealers. Currently renewing our terms and BMW is 21% discount on list price.
April '06' Corsasport Feature Car  | Aug '08' Total Vauxhall Feature Car | Spring '09' Fast Car Feature Car
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whitter45
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Registered: 15th Nov 02
Location: Norton
User status: Offline
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quote:
Originally posted by Daniel_Corsa
quote:
Originally posted by whitter45
you will also find that on the car list lease the likes of Audi BMW, MERC Vag etc are cheaper compared to Fords etc due to residuals
I know a Mondeo was far more expensive than the BMW I opted for in terms of a monthly lease cost
Also when if you opt out and get a l;ease consider mileage penalities
I very much doubt a position with few business miles will offer a car unless you are at a certain level in which its deemed part of your package rather than a requirement to do your job
[Edited on 19-01-2012 by whitter45]
Also down to the discount percentage at the dealers. Currently renewing our terms and BMW is 21% discount on list price.
yeah thats very true TBF
I remember the guy telling me ordering my car that a 27k 320i was being bought by our lease company for 20k
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